Tourmaline Oil (TSE:TOU) Stock Rating Lowered by Desjardins

Tourmaline Oil (TSE:TOU) was downgraded by analysts at Desjardins from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. They currently have a C$74.00 target price on the stock, down from their previous target price of C$80.00. Desjardins’ price objective points to a potential upside of 11.31% from the stock’s current price.

Several other analysts have also recently weighed in on TOU. National Bankshares lifted their price objective on Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Jefferies Financial Group boosted their price objective on shares of Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday, December 16th. UBS Group boosted their target price on shares of Tourmaline Oil from C$79.00 to C$80.00 in a research note on Thursday, February 13th. CIBC boosted their target price on shares of Tourmaline Oil from C$75.00 to C$80.00 in a research note on Friday, January 17th. Finally, Cormark raised shares of Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research report on Friday, March 7th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Tourmaline Oil has an average rating of “Moderate Buy” and an average target price of C$78.36.

Tourmaline Oil Price Performance

TSE TOU traded up C$0.36 during trading hours on Wednesday, reaching C$66.48. 4,617,242 shares of the stock traded hands, compared to its average volume of 2,314,993. The stock has a 50 day simple moving average of C$67.15 and a two-hundred day simple moving average of C$64.54. Tourmaline Oil has a 1 year low of C$55.27 and a 1 year high of C$70.83. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. The company has a market cap of C$24.77 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30.

Insider Buying and Selling

In related news, Senior Officer Mike Rose bought 2,500 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of C$63.30 per share, for a total transaction of C$158,252.50. Also, Director Jill Terilee Angevine bought 1,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was bought at an average price of C$66.63 per share, for a total transaction of C$66,630.00. Insiders acquired a total of 16,000 shares of company stock valued at $1,054,314 over the last 90 days. Insiders own 5.13% of the company’s stock.

About Tourmaline Oil

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.